What is the difference between centralized and decentralized exchange?

The main difference between decentralized DEXs and centralized CEXs platforms is that in the former case, the money is under the control of users in their personal wallets. The centralized exchange controls user funds during trading by matching buyers and sellers through the order book, while the DEX uses smart contracts. CEXs provide simple and convenient trading tools for beginners, DEXs offer complete control over assets and absolute anonymity, so they are ideal for experienced traders.